KINGS SCHOOL ASSOCIATION
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
31 JULY 2022
Registered Charity No: 295108
KINGS SCHOOL ASSOCIATION
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
For the year ended 31 July 2022
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Accounts | 5 - 8 |
KINGS SCHOOL ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
For the year ended 31 July 2022
Charity name: Kings School Association Registered charity number: 295108 The Charity is governed by a constitution dated 16 October 1985, amended October 1993. Management Committee: The policy and general management of the affairs of the charity are directed by an elected Management Committee. Trustees: James Adams Claire Burley Vikki Browning Aims and Objectives: To provide and assist in the provision of facilities for education at the school, to foster more extended relationships between the staff, parents and others associated with the school and to engage in activities which support the school and advance the education of the pupils attending it.
1
KINGS SCHOOL ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
For the year ended 31 July 2022
I report on the accounts of the trust for the year ended 31 July 2022 as set out on p
Respective responsibilities of trustees and reporting accountants
The charity's trustees are responsible for the preparation of the accounts. The char an audit is not required for this year (under section 43 (2) of the Charities Act 1993 the Charities Act 2006)) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 43 (3) (a) of the 1993 Act);
-
to follow the procedures laid down in the General Directions given by the Ch (under section 43 (7) (b) of the 1993 Act); and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by An examination includes a review of the accounting records kept by the charity and presented with those records. It also includes consideration of any unusual items or and seeking explanations from you as trustees concerning any such matters. The pr provide all the evidence that would be required in an audit, and consequently I do n on the view given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the
-
to keep accounting records in accordance with section 41 of the
-
to prepare accounts which accord with the accounting records a accounting requirements of the 1993 Act
have not been met: or
- (2) to which, in my opinion, attention should be drawn in order to enable a prop accounts to be reached.
Mark Wolverson BA (Hons) ACA Date..............................
pages 3 to 8.
rity's trustees consider that 3 (the 1993 Act as amended by
harity Commissioners
y the Charity Commissioners. d a comparison of the accounts r disclosures in the accounts, rocedures undertaken do not not express an audit opinion
requirements
1993 Act; and
and to comply with the
per understanding of the
KINGS SCHOOL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 July 2022
| Note Income and expenditure Donations, legacies and similar incoming resources Incoming resources from operating activities; activities for generating funds Investment income Total incoming resources 5 Resources expended Direct charitable expenditure Donations to Kings School 11 Direct charitable costs 6 Management & administration of the charity 7 Total resources expended Net incoming / (outgoing) resources for the year 2 Transfers between funds Balances brought forward Balances carried forward 9 |
Unrestricted Restricted Total Funds Funds Fund 2022 £ £ £ 5,551 - 5,551 20,369 - 20,369 - - - |
|---|---|
| 25,920 - 25,920 |
|
| 589 - 589 7,180 - 7,180 437 - 437 |
|
| 8,206 - 8,206 |
|
| 17,714 - 17,714 - - - 13,591 - 13,591 |
|
| 31,305 - 31,305 |
Total Funds 2021
3,360 1,605 - 4,965
7,685 100 123 7,908
(2,943)
- 16,534 13,591
KINGS SCHOOL ASSOCIATION
BALANCE SHEET
For the year ended 31 July 2022
| Note Current assets Debtors 3 Stock Cash in bank Cash in hand Current liabilities Creditors falling due within one yea 4 Net current assets Net assets Represented by Funds Unrestricted funds 9 Restricted funds 10 |
2022 £ £ - 38 31,082 185 31,305 - 31,305 31,305 31,305 - 31,305 |
2022 £ £ - 38 31,082 185 31,305 - 31,305 31,305 31,305 - 31,305 |
|---|---|---|
| 31,305 - |
||
| 31,305 | ||
| 31,305 - |
||
| 31,305 |
The Trustees have acknowledged their responsibilities for preparing accounts which g the charity's activities for the year then ended in accordance with applicable accountin Charities Accounting Statement of Recommended Practice (SORP).
The accounts on pages 3 to 8 were approved by, and signed on behalf of the trustees o
.......................................... Chair person
2021 £ £
- 37 13,404 185 13,626 35 13,591 13,591
13,591 - 13,591
give a true and fair view of ng standards and the
on
KINGS SCHOOL ASSOCIATION
NOTES ON ACCOUNTS
For the year ended 31 July 2022
1 Accounting Policies
The financial statements have been prepared under the historical cost convention. The accounts are in accordance with applicable accounting standards, the Charitie (Accounting and Reporting by Charities) and comply with the Charities (Accounts a 2005 issued under the Charities Act 1993
Fund Accounting
Unrestricted funds are donations and other incoming resources receivable or gene of the charity without further specified purpose and are available as general funds
Restricted funds are to be used for specific purposes as laid down by the donor. Ex these criteria is charged to the fund, together with a fair allocation of managemen
Incoming Resources
All income is fully recognised in the year in which it is received.
Resources Expended
Resources expended are recognised in the period in which they are incurred. Resources expended are allocated to the particular activity where the cost relates
Investment Income
Investment income consists of bank interest.
2 Net incoming/(outgoing) resources
2022
£
Net incoming/(outgoing) resources are stated after charging:
Chairman's expenses -
es SORP 2005 and Reports) Regulation
erated for the objects
s.
xpenditure which meets t and support costs.
directly to that activity.
2021 £
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
| 3 Debtors Amounts falling due within one year Other Debtors 4 Creditors Amounts falling due within one year Sundry Creditors and Accruals |
2022 £ - |
|---|---|
| - | |
| 2022 £ - |
|
| - |
6
2021 £
2021 £
35 35
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| Fund | Funds | 2022 | ||
| £ | £ | £ | ||
| **5 ** | Income | |||
| Specifc donations | 5,551 | - | 5,551 | |
| Supporting school events | 239 | - | 239 | |
| Summer fayre | 5,075 | - | 5,075 | |
| Comedy night | 6,498 | - | 6,498 | |
| School production | 8,557 | - | 8,557 | |
| Staf rafe | - | - | - | |
| 25,920 | - | 25,920 | ||
| **6 ** | Direct charitable costs | |||
| Specifc donations | 1,144 | - | 1,144 | |
| Supporting school events | 940 | - | 940 | |
| Summer fayre | 708 | - | 708 | |
| Comedy night | 3,969 | - | 3,969 | |
| School production | 419 | - | 419 | |
| Staf rafe | - | - | - | |
| 7,180 | - | 7,180 | ||
| **7 ** | Administration Expenses | |||
| NCPTA Membership | 128 | - | 128 | |
| Sundry | 309 | - | 309 | |
| 437 | - | 437 |
7
Total 2021 £ 4,845 - - - - 120 4,965
100 - - - - - 100 123 - 123
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
8 Staff costs
The Kings School Association is operated on a trustee basis. No members of the management committee or any person connected with them has received or is remuneration for the year directly or indirectly from the Charity's funds. The tr of the executive management committee are reimbursed incidental travel expe of the charity. The amounts paid are not significant to the charity.
9 Analysis of funds
| Unrestricted | Restricted | |
|---|---|---|
| Funds | Funds | |
| £ | £ | |
| Balance at 31 July 2021 | 13,591 | - |
| Net incoming/(outgoing) resources | 17,714 | - |
| Transfers between funds | - | - |
| Balance at 31 July 2022 | 31,305 | - |
| Represented by: | ||
| Net current assets | 31,305 | - |
| 31,305 | - |
10 Restricted Funds
There were no restricted funds at 31 July 2022 nor at 31 July 2021.
11 Donations to Kings School
The donations to Kings School in the year represented £589 (2021: £7,685) of u funds and £0 (2021: £0) of restricted funds.
e due to receive any rustees, and members enses at the discretion
Total Funds £ 13,591 17,714 - 31,305
31,305
31,305
unrestricted
KINGS SCHOOL ASSOCIATION
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
31 JULY 2022
Registered Charity No: 295108
KINGS SCHOOL ASSOCIATION
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
For the year ended 31 July 2022
CONTENTS
| Page | |
|---|---|
| Legal and Administrative Information | 1 |
| Independent Examiner's Report | 2 |
| Statement of Financial Activities | 3 |
| Balance Sheet | 4 |
| Notes to the Accounts | 5 - 8 |
KINGS SCHOOL ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
For the year ended 31 July 2022
Charity name: Kings School Association Registered charity number: 295108 The Charity is governed by a constitution dated 16 October 1985, amended October 1993. Management Committee: The policy and general management of the affairs of the charity are directed by an elected Management Committee. Trustees: James Adams Claire Burley Vikki Browning Aims and Objectives: To provide and assist in the provision of facilities for education at the school, to foster more extended relationships between the staff, parents and others associated with the school and to engage in activities which support the school and advance the education of the pupils attending it.
1
KINGS SCHOOL ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
For the year ended 31 July 2022
I report on the accounts of the trust for the year ended 31 July 2022 as set out on p
Respective responsibilities of trustees and reporting accountants
The charity's trustees are responsible for the preparation of the accounts. The char an audit is not required for this year (under section 43 (2) of the Charities Act 1993 the Charities Act 2006)) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts (under section 43 (3) (a) of the 1993 Act);
-
to follow the procedures laid down in the General Directions given by the Ch (under section 43 (7) (b) of the 1993 Act); and
-
to state whether particular matters have come to my attention
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by An examination includes a review of the accounting records kept by the charity and presented with those records. It also includes consideration of any unusual items or and seeking explanations from you as trustees concerning any such matters. The pr provide all the evidence that would be required in an audit, and consequently I do n on the view given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that in any material respect the
-
to keep accounting records in accordance with section 41 of the
-
to prepare accounts which accord with the accounting records a accounting requirements of the 1993 Act
have not been met: or
- (2) to which, in my opinion, attention should be drawn in order to enable a prop accounts to be reached.
Mark Wolverson BA (Hons) ACA Date..............................
pages 3 to 8.
rity's trustees consider that 3 (the 1993 Act as amended by
harity Commissioners
y the Charity Commissioners. d a comparison of the accounts r disclosures in the accounts, rocedures undertaken do not not express an audit opinion
requirements
1993 Act; and
and to comply with the
per understanding of the
KINGS SCHOOL ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 July 2022
| Note Income and expenditure Donations, legacies and similar incoming resources Incoming resources from operating activities; activities for generating funds Investment income Total incoming resources 5 Resources expended Direct charitable expenditure Donations to Kings School 11 Direct charitable costs 6 Management & administration of the charity 7 Total resources expended Net incoming / (outgoing) resources for the year 2 Transfers between funds Balances brought forward Balances carried forward 9 |
Unrestricted Restricted Total Funds Funds Fund 2022 £ £ £ 5,551 - 5,551 20,369 - 20,369 - - - |
|---|---|
| 25,920 - 25,920 |
|
| 589 - 589 7,180 - 7,180 437 - 437 |
|
| 8,206 - 8,206 |
|
| 17,714 - 17,714 - - - 13,591 - 13,591 |
|
| 31,305 - 31,305 |
Total Funds 2021
3,360 1,605 - 4,965
7,685 100 123 7,908
(2,943)
- 16,534 13,591
KINGS SCHOOL ASSOCIATION
BALANCE SHEET
For the year ended 31 July 2022
| Note Current assets Debtors 3 Stock Cash in bank Cash in hand Current liabilities Creditors falling due within one yea 4 Net current assets Net assets Represented by Funds Unrestricted funds 9 Restricted funds 10 |
2022 £ £ - 38 31,082 185 31,305 - 31,305 31,305 31,305 - 31,305 |
2022 £ £ - 38 31,082 185 31,305 - 31,305 31,305 31,305 - 31,305 |
|---|---|---|
| 31,305 - |
||
| 31,305 | ||
| 31,305 - |
||
| 31,305 |
The Trustees have acknowledged their responsibilities for preparing accounts which g the charity's activities for the year then ended in accordance with applicable accountin Charities Accounting Statement of Recommended Practice (SORP).
The accounts on pages 3 to 8 were approved by, and signed on behalf of the trustees o
.......................................... Chair person
2021 £ £
- 37 13,404 185 13,626 35 13,591 13,591
13,591 - 13,591
give a true and fair view of ng standards and the
on
KINGS SCHOOL ASSOCIATION
NOTES ON ACCOUNTS
For the year ended 31 July 2022
1 Accounting Policies
The financial statements have been prepared under the historical cost convention. The accounts are in accordance with applicable accounting standards, the Charitie (Accounting and Reporting by Charities) and comply with the Charities (Accounts a 2005 issued under the Charities Act 1993
Fund Accounting
Unrestricted funds are donations and other incoming resources receivable or gene of the charity without further specified purpose and are available as general funds
Restricted funds are to be used for specific purposes as laid down by the donor. Ex these criteria is charged to the fund, together with a fair allocation of managemen
Incoming Resources
All income is fully recognised in the year in which it is received.
Resources Expended
Resources expended are recognised in the period in which they are incurred. Resources expended are allocated to the particular activity where the cost relates
Investment Income
Investment income consists of bank interest.
2 Net incoming/(outgoing) resources
2022
£
Net incoming/(outgoing) resources are stated after charging:
Chairman's expenses -
es SORP 2005 and Reports) Regulation
erated for the objects
s.
xpenditure which meets t and support costs.
directly to that activity.
2021 £
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
| 3 Debtors Amounts falling due within one year Other Debtors 4 Creditors Amounts falling due within one year Sundry Creditors and Accruals |
2022 £ - |
|---|---|
| - | |
| 2022 £ - |
|
| - |
6
2021 £
2021 £
35 35
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| Fund | Funds | 2022 | ||
| £ | £ | £ | ||
| **5 ** | Income | |||
| Specifc donations | 5,551 | - | 5,551 | |
| Supporting school events | 239 | - | 239 | |
| Summer fayre | 5,075 | - | 5,075 | |
| Comedy night | 6,498 | - | 6,498 | |
| School production | 8,557 | - | 8,557 | |
| Staf rafe | - | - | - | |
| 25,920 | - | 25,920 | ||
| **6 ** | Direct charitable costs | |||
| Specifc donations | 1,144 | - | 1,144 | |
| Supporting school events | 940 | - | 940 | |
| Summer fayre | 708 | - | 708 | |
| Comedy night | 3,969 | - | 3,969 | |
| School production | 419 | - | 419 | |
| Staf rafe | - | - | - | |
| 7,180 | - | 7,180 | ||
| **7 ** | Administration Expenses | |||
| NCPTA Membership | 128 | - | 128 | |
| Sundry | 309 | - | 309 | |
| 437 | - | 437 |
7
Total 2021 £ 4,845 - - - - 120 4,965
100 - - - - - 100 123 - 123
KINGS SCHOOL ASSOCIATION
NOTES TO THE ACCOUNTS
For the year ended 31 July 2022
8 Staff costs
The Kings School Association is operated on a trustee basis. No members of the management committee or any person connected with them has received or is remuneration for the year directly or indirectly from the Charity's funds. The tr of the executive management committee are reimbursed incidental travel expe of the charity. The amounts paid are not significant to the charity.
9 Analysis of funds
| Unrestricted | Restricted | |
|---|---|---|
| Funds | Funds | |
| £ | £ | |
| Balance at 31 July 2021 | 13,591 | - |
| Net incoming/(outgoing) resources | 17,714 | - |
| Transfers between funds | - | - |
| Balance at 31 July 2022 | 31,305 | - |
| Represented by: | ||
| Net current assets | 31,305 | - |
| 31,305 | - |
10 Restricted Funds
There were no restricted funds at 31 July 2022 nor at 31 July 2021.
11 Donations to Kings School
The donations to Kings School in the year represented £589 (2021: £7,685) of u funds and £0 (2021: £0) of restricted funds.
e due to receive any rustees, and members enses at the discretion
Total Funds £ 13,591 17,714 - 31,305
31,305
31,305
unrestricted
Kings School Association
Accounts for the Association for the year ended 31 July 2022
Report by the Independent Examiner
I have complied the accounts as presented to the AGM from the underlying financial records and bank statements of the Association, as kept by Vikki Browning.
My report and the scope of my work is covered on page 2 of the accounts.
I would like to bring the following matters to the attention of the AGM:
-
The income of the charity is detailed in note 5, on page 7, of the accounts. The specific donations continue to be made up from the following sources.
-
Monthly amounts paid by parents, guardians and supports of the school by way of unrestricted donations.
-
Income from the 100 club which operates a monthly prize draw.
-
Other donations received at school events supported by the Charity.
-
o Commissions from spending on websites such as Amazon via their “Smile Club”
-
-
Other income streams from specific events have returned this year after covid restrictions prevented the Charity from staging such events last year. These events were historically well supported and create significant income for the Charity.
-
Direct charitable costs are those cost incurred by the Charity in bringing about the income received from specific events and donations. The costs are in line with those seen in previous years when these events were last staged. The costs in relation to Specific Donations are the prizes paid from the 100 club and associated lottery license.
-
Administrative expenses have risen this year with the addition of bank charges. These appear to be around the use of credit card machines and not in relation to the day to day bank account of the charity.
-
On 31 July there were no debtors and no creditors. A creditor of £35 owing to one of the past Trustees for costs of the Charity has been written off to donations in the year. This money was owed to Jane Lamprey and has been carried over since 2020.
-
The Charity was able to make donations of £589 in line with its objectives to Kings School. These donations were in relation to a netball kit purchased.
-
On 31 July 2022 the Charity had unrestricted reserves of £31,305.
-
The main asset of the Charity, included within these reserves, is the bank balance of £31,082.
In closing I would like to address the unrestricted reserves of the Charity at present. It is always hard for any charity to strike a balance between deployment of reserves, to meet the charitable aims of the organisation, and financial prudence. Such prudence is needed to ensure the organisation can continue to exist when income and expenditure are uncertain or subject to change, or when cash funds are needed to meet upfront costs of future events from which income is derived. It is the Trustees responsibility to ensure that these 2 conflicting objectives are managed.
I consider that the unrestricted reserves of this Charity are excessive at present. I am sure the Charity is doing all it can to identify projects that it can support in line with the wishes of the Kings School. I hope that during this coming year the Trustees and Members are successful in choosing projects to support and getting these resources mobilised. To this end I hope the management of the School recognise the role they need to play in identify projects which meet the objectives of the Association while benefiting as many of the school community as possible.
There are no further matters I wish to bring to the attention of the AGM.
Report prepared by:
Mark Wolverson 3[rd] October 2022